April 27, 2017 / 1:33 AM / 3 months ago

Insurer AIA Group shares open up 5.4 percent after strong first quarter

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FILE PHOTO: The logo of AIA is displayed at its office in Hong Kong, China February 24, 2017.Bobby Yip/File Photo

HONG KONG (Reuters) - AIA Group Ltd (1299.HK) shares opened up 5.4 percent on Thursday after the world's third-largest life insurer by market value posted a 55 percent rise in its new business in the first quarter.

The insurer's value of new business, which measures expected profits from new premiums and is a key gauge for growth, rose to$884 million during the quarter, up from $578 million in the same period a year ago, the company earlier said.

Reporting by Donny Kwok; Editing by Stephen Coates

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